TODD D. KENDALL Vice President Business Address:

July 2013

Compass Lexecon 332 S. Michigan Ave. Chicago, IL 60604-4937

(312) 322-0250 [email protected]

EDUCATION University of Chicago, Chicago, Illinois Ph.D. (Economics), 2003 Concentrations: mathematical economics, labor economics University of Chicago, Chicago, Illinois M.A. (Economics), 2000 University of Chicago, Chicago, Illinois B.S. (Mathematics), 1998 PROFESSIONAL EXPERIENCE Compass Lexecon, Chicago, Illinois Vice President (2012 – Present) Senior Economist (2009 – 2012) Economist (2008 – 2009) Clemson University, Clemson, South Carolina Assistant Professor of Economics (2003 – 2008) EXPERT REPORTS AUTHORED Expert Report of Todd D. Kendall and Bradley N. Reiff in Re: Mack Trucks, Inc., et al. (Petitioners) v. United States Environmental Protection Agency (Respondent) and Navistar, Inc. (Intervenor), The United States Court of Appeals for the District of Columbia Circuit, Nos. 12-1077, 12-1078, 12-1099, April 4, 2012. Comment of Daniel R. Fischel and Todd D. Kendall to the Department of Labor on a Proposed Rule Regarding Fiduciary Status under ERISA, April 12, 2011.

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NOTABLE RECENT CONSULTING ENGAGEMENTS In Re: September 11 Litigation, World Trade Center Properties and 7 World Trade Co. v. Aviation Defendants. On behalf of defendants, led economic team assisting expert Daniel Fischel in preparing expert reports on damages and correspondence issues. July 2013 trial resulted in judicial ruling of zero damages, with court largely relying on Fischel’s testimony. Cantor Fitzgerald & Co., et al. v. Aviation Defendants. On behalf of defendants, led economic team assisting expert Daniel Fischel in preparing mediation and expert reports regarding complex business interruption claim relating to September 11 terrorist attacks. Trial scheduled for January 2014. Major environmental damages class action. On behalf of defendants, led team analyzing economic damages claims made by a very large number of governmental entities, and presented analyses to plaintiffs in many settlement negotiations. Matter is currently in continued settlement discussions. Copyright Royalty Board webcasting proceedings. On behalf of a key party to federal regulatory proceedings scheduled for 2014, prepared economic analyses of appropriate royalty rate on sound recordings in the internet radio industry. Public sector pension adjustment matter. On behalf of a major US city, assisted expert Daniel Fischel in preparing a 2012 report provided to state legislators estimating the size of unfunded pension obligation and its effects on local economic activity. Legislation is currently being debated. United States of America v. George’s Foods, LLC et al. On behalf of defendants, led economic team assisting expert Dennis Carlton in preparing expert report in 2011 federal lawsuit seeking to enjoin a corporate acquisition in the agriculture industry. Case settled on favorable terms to defendants and acquisition proceeded. Mack Trucks, Inc., et al. v. United States Environmental Protection Agency and Navistar, Inc. On behalf of Navistar, co-authored 2012 expert report analyzing the effects of proposed regulatory penalties on competition in the heavy-duty diesel engine industry. Court allowed Navistar to pay lower penalties than demanded by plaintiffs, therefore allowing it to remain in the industry. Department of Labor proposed rule. On behalf of Primerica, co-authored 2011 white paper describing deleterious effects of a proposed rule to extend the definition of “fiduciary” status under ERISA. DoL subsequently withdrew the proposed rule. In an editorial applauding the decision, the Wall Street Journal wrote that the DoL “may also have seen defeat coming in courts that are showing less tolerance for sloppy rule-making.”

PUBLISHED RESEARCH ARTICLES Scholarly economic theory and empirical articles published in many peer-reviewed journals and collected volumes, including: Journal of Law and Economics, Journal of Urban Economics, Public Choice, Journal of Economic Behavior and Organization, Managerial and Decision Economics, BE Journal of Economic Analysis & Policy, Journal of Family and Economic Issues, Research Handbook on the Economics of Family Law (Edward Elgar), Sexually Transmitted Diseases, Journal of Cultural Economics, Journal of Sports Economics, Southern Economic Journal, The Economists’ Voice. 2

HONORS, GRANTS, AND FELLOWSHIPS Many citations to research in major media, including: Atlanta Journal-Constitution, The Atlantic, Baltimore Sun, Bloomberg News, Calgary Herald, Chicago Tribune, Christian Science Monitor, Financial Times, Houston Chronicle, Human Events, Legal Affairs, Minneapolis Star-Tribune, Orlando Sentinel, Reason, Slate.com, Salon.com, Wired News, KOGO San Diego, CFRB Toronto, CHQR Calgary. Honorary Lecturer, Wofford College (2007) Honorable Mention, Economic Communicators Contest (Assn. of Private Enterprise Educ.) (2007) College of Business and Behavioral Science Faculty Seed Grant, Clemson University (2006) University Research Grant, Clemson University (2005) John M. Olin Prize (for excellence in dissertation work), University of Chicago (2001) Lynde and Harry Bradley Foundation Fellowship (1998-2001) Century Scholarship (1998-2001) Sigma Xi (1998)

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